CLS wins 'patent troll' Supreme Court case

Australian firm claimed to own patent rights to CLS settlement systems, but Supreme Court threw out the case in a 9-0 judgement

David Puth at CLS
David Puth, CLS

Foreign exchange settlement service CLS won its long-running legal dispute with ‘patent troll' Alice Corporation this week, when the US Supreme Court decided unanimously that the abstract idea of intermediated settlement is not patent eligible.

The industry is likely to greet the decision with a sigh of relief, as CLS had warned that defeat could lead to serious market disruption and a rise in overall trading costs. Alice Corp, a little-known Australian firm that buys up technology patents with

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Stemming the tide of rising FX settlement risk

As the trading of emerging markets currencies gathers pace and broader uncertainty sweeps across financial markets, CLS is exploring alternative services designed to mitigate settlement risk for the FX market

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